Capital Bank secures $100 million Tier 1 capital

Basem Khalil Al-Salem, chairman of the Capital Bank Group. (Photo:Capital Bank)
AMMAN — Capital Bank Group announced on Wednesday that it has succeeded in issuing the first $100 million perpetual loan bonds, the first of its kind in Jordan for bonds classified under the additional "Tier1 A" capital, according to Jordan News Agency, Petra.اضافة اعلان

The bank said in a statement that the issuance, which was managed by Capital Invest, the investment arm of the Capital Bank Group, attracted significant investor interest and was oversubscribed with more than double the initial value offered. It added that the subscribers came from Jordan and the region.

Next week, Capital Bank is scheduled to ring the opening bell on the Nasdaq Dubai to celebrate the listing of the bonds, which is the first listing received by this stock exchange in the new year.

"We are proud of the success of this issuance, which demonstrates the confidence enjoyed by the Capital Bank Group and the strength of its financial position," Basem Khalil Al-Salem, chairman of the Capital Bank Group, said, noting that the choice of Nasdaq Dubai to list the issuance aimed to give investors from outside Jordan the opportunity to invest in the Jordanian banking sector.

CEO of Capital Bank Daoud Ghoul said that the issuance proceeds will be used to strengthen the capital base of Capital Bank. He said that the loan will also be used to support the bank's expansion plans, including the launch of the digital bank Blink in Jordan and Iraq, the recent acquisition of Societe Generale Bank-Jordan, and expansion in the Saudi market.

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